Analysis

FCA ‘still worried about’ poor behaviour by claims management companies

By 2020-12-09T12:32:00

compliance

Industry experts notice a more aggressive approach from CMCs, including cold calling, but the FCA confirms it is looking to stamp out bad habits in this section of the insurance market

Following three ‘Dear CEO’ letters to claims management companies (CMCs), Barbara Kubis-Labiak, technical specialist in the claims management companies department at the FCA, is “still worried” about “areas of harm” and risks reigning in this sector, such as “poor disclosure”, “unclear fee structures” and “service standards”.

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